What is a Partnership Agreement?

5 minute read
Woman supervisor boss teach diverse staff workers explain partnership agreement paperwork at group meeting

As an entrepreneur, doing business alone can make the road seem hard and lonely. Having a second (third or fourth) set of eyes or a person to run things by can make your business easier and more fun. That’s why choosing a partnership business structure could be the choice for you.

However, it’s estimated that 80 per cent of partnerships will fall apart, so it’s important you protect yourself before that happens. That’s where a partnership agreement comes into play. It can help you protect you and your business in the long run, should things not work out.